Brooke Company began operations on January 1, 2011, and uses the installment sales method of accounting. The company has the following information available for 2011 and 2012:

The realized gross profit for 2012 would be
A) $1,680,000.
B) $2,760,000.
C) $3,120,000.
D) $4,320,000.

Question

Brooke Company began operations on January 1, 2011, and uses the installment sales method of accounting. The company has the following information available for 2011 and 2012:

The realized gross profit for 2012 would be
A) $1,680,000. 
B) $2,760,000. 
C) $3,120,000. 
D) $4,320,000.

Quizplus · Accepted Answer

The Answer of Brooke Company began operations on January 1, 2011, and uses the installment sales method of accounting. The company has the following information available for 2011 and 2012:

The realized gross profit for 2012 would be
A) $1,680,000. 
B) $2,760,000. 
C) $3,120,000. 
D) $4,320,000.

Brooke Company Began Operations on January 1, 2011, and Uses